Tienwah: Recovery may begin

 In May, I have noted that Tienwah's bottom-line had worsened. Nonetheless I maintained my view that the stock is at a level that one can begin slow accumulation. That's consistent with my April post where I noted that the sweet spot to buy was nearing. See Chart 1.

 
Chart 1: Tienwah's monthly chart as at Nov 4, 2015_3.00pm (Source: Share Investors) 
 
I just discovered that the stock has broken above its intermediate downtrend line. See Chart 2. This may not be the begin of the next upleg but it is a confirmation of a bottom. In the event of weakness ahead, you can accumulate more of the stock at RM1.65-1.75.


Chart 2: Tienwah's weekly chart as at Nov 4, 2015_3.00pm (Source: Share Investors) 

Note: 
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Tienwah.